Multiple Wills in Ontario — The Probate-Fee Strategy for Business Owners
The multiple wills strategy is one of the most valuable estate planning techniques for Ontario business owners and substantial estate-holders. It reduces Ontario's significant probate fees on assets that don't require probate to transfer.
The strategy in one sentence
Use two coordinated wills — a primary will covering assets that require probate (real estate, public securities, bank accounts) and a secondary will covering assets that don't require probate to transfer (typically private company shares). Probate only the primary; save the probate fee on the secondary assets.
Why this matters in Ontario
Ontario's Estate Administration Tax (probate fees):
- $0 on first $50,000
- $15 per $1,000 (1.5%) over $50,000
- No cap
For an estate of $5,000,000:
- First $50,000: $0
- Remaining $4,950,000: $74,250
- Total: $74,250
If $3,000,000 of that estate is private company shares that don't require probate to transfer:
- With multiple wills: probate only the $2,000,000 in other assets — fee approximately $29,250
- Without multiple wills (all in one will): probate the full $5,000,000 — fee $74,250
- Savings: ~$45,000
For substantial estates with private company holdings, savings can be very substantial.
Why this is Ontario-specific
Ontario's no-cap structure makes the savings particularly meaningful. Other provinces:
- Manitoba abolished probate fees 2020 — strategy not relevant
- Alberta capped at $525 — savings minimal
- Saskatchewan $7/$1,000 — moderate but lower than Ontario
- BC capped impact through different rate structure — savings possible but less pronounced
- Atlantic provinces vary
Multiple wills strategy primarily an Ontario phenomenon.
What assets work in a secondary will
Assets that don't require probate to transfer typically include:
- Private company shares — corporate transfer can happen by corporate procedures (share transfer book, shareholder records) without requiring probate
- Specific personal property — items that can transfer without formal probate
- Specific other arrangements with appropriate documentation
Assets that typically require probate:
- Real estate (Land Title Office requires probate)
- Public securities in brokerage accounts (brokers typically require probate)
- Bank accounts (banks typically require probate above small amounts)
- Specific other institutional assets
The Granovsky decision
Granovsky Estate v. Ontario (1998) validated the multiple wills strategy in Ontario.[1]
The court accepted that:
- A secondary will covering specific assets not requiring probate is valid
- The secondary will need not be submitted for probate
- Probate fees apply only to the primary will assets
- The strategy is legitimate estate planning
This decision is the foundation of widespread multiple wills use in Ontario today.
Who benefits
Business owners with private company shares
Most significant beneficiary. Substantial private company equity can be moved to secondary will, avoiding probate on that value.
Professionals with practice equity
Lawyers, accountants, doctors with equity in their professional corporation or partnership. Equity moves through secondary will.
Family business owners
Multi-generational family businesses with substantial private company holdings.
Substantial estate-holders with specific assets
Estates with substantial assets that can be transferred without probate.
Who doesn't benefit much
- Estates without private company holdings
- Estates entirely in public assets (banks, brokerages, real estate)
- Estates in low-fee or no-fee provinces (Manitoba, Alberta)
- Smaller estates where savings don't justify drafting complexity
How it works in practice
Drafting the two wills
Primary will:
- Covers assets requiring probate
- Executor named (often spouse, adult child, or trust company)
- Standard executor powers
- Specific to circumstances
Secondary will:
- Covers private company shares and other non-probate assets
- Separate executor (or same person; specific to circumstances)
- Different scope of authority
- Specific to circumstances
Coordination:
- Same testator
- Different scope
- Specific cross-references
- Specific drafting to avoid conflict
At death
Primary will:
- Submitted for probate
- Estate Administration Tax paid on primary will assets only
Secondary will:
- Not submitted for probate
- Held privately
- Used to transfer secondary will assets directly through corporate or other procedures
Two separate administrations can occur — primary will through standard probate; secondary will through private procedures.
Practical considerations
Drafting complexity
Multiple wills require careful drafting:
- Clear separation of assets between wills
- Coordinated executor powers
- Specific cross-references
- Avoidance of accidental overlap
Lawyer-assisted typically essential. This isn't a DIY strategy.
Cost vs benefit
Drafting cost: $2,500-7,500+ for proper multiple wills strategy.
Savings: Depends on private company asset value. For substantial holdings, savings dramatically exceed drafting cost.
Break-even: Approximately $250K+ in private company holdings to break even on drafting cost (specific to circumstances).
Ongoing maintenance
Both wills need maintenance:
- Updates with life events
- Updates with asset changes (specific to which will covers what)
- Coordination of changes
Specific to private company shares
Specific corporate documentation supports the strategy:
- Share certificates
- Shareholder records
- Corporate transfer procedures
- Specific to circumstances
Limitations and risks
Not appropriate for typical estates
For estates without private company holdings, multiple wills strategy doesn't provide meaningful benefit and adds complexity.
Specific drafting risks
Improper drafting can result in:
- Accidental inclusion of secondary will assets in probate
- Conflicting provisions
- Confusion about executor authority
Provincial law changes
Future legislative changes could affect the strategy. Currently well-established but subject to potential changes.
Specific corporate structures
Some corporate structures don't lend themselves well to the strategy. Specific to circumstances.
BC variant
BC has its own variant of multiple wills strategy under WESA. Specific to BC's lower probate fee structure; less common than Ontario but used in specific situations. Specific to BC estate planning.
What we focus on at It's Simple Will
The Will Creator produces single Wills for typical estates. For multiple wills strategy or substantial estates with private company holdings, lawyer-assisted estate planning is essential — the complexity warrants professional drafting.
Related guides
Citations & sources
- [1]Granovsky Estate v. Ontario, 1998 CanLII 14913 (ON SC), (1998) 156 DLR (4th) 557 — Ontario Superior Court / CanLII
- [2]Canadian Bar Association — Wills, Estates and Trusts Section — Canadian Bar Association
- [3]Ontario Estate Administration Tax Act, 1998 — Government of Ontario / CanLII
Frequently asked questions
How does the multiple wills strategy work?
Two coordinated wills — primary covers assets requiring probate (real estate, public securities, bank accounts); secondary covers assets that don't require probate (typically private company shares). Only primary is probated. Probate fees applied only to primary will assets.
Why is this an Ontario strategy?
Ontario charges Estate Administration Tax (probate fees) at 1.5% over $50,000 with no cap — highest in Canada. For substantial estates with private company holdings, the savings can be substantial. Less compelling in low-fee provinces (Manitoba abolished, Alberta capped).
What's Granovsky Estate?
Granovsky Estate v. Ontario (1998) is the Ontario decision validating the multiple wills strategy. The court accepted that a secondary will covering specific assets not requiring probate is valid and effective in reducing probate fees. Foundational for the strategy.
Who benefits?
Business owners with substantial private company equity; professionals (lawyers, accountants, doctors) with practice equity; family business owners; substantial estate-holders with assets that don't require probate to transfer. Less benefit for typical estates without private company assets.
Is this risky or controversial?
Well-established and accepted. Multiple wills strategy has been used for decades in Ontario. Specific drafting must be done carefully to ensure both wills coordinate properly and don't accidentally probate the secondary will assets.
Why don't other provinces use this?
Several reasons — other provinces have lower probate fees making savings less compelling; specific provincial law differs; some provinces have specific rules affecting the strategy. BC has its own variant; other provinces less common.